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HomeMy WebLinkAboutAgenda_GTEC_01.15.2014Notice of Meeting for the Georgetown Transportation Enhancement Corp and the Governing Body of of the City of Georgetown January 15, 2014 at 2:00 PM at the Georgetown Municipal Complex, 300-1 Industrail Ave, Georgetown, TX 78626 The City of Georgetown is committed to compliance with the Americans with Disabilities Act (ADA). If you require assistance in participating at a public meeting due to a disability, as defined under the ADA, reasonable assistance, adaptations, or accommodations will be provided upon request. Please contact the City at least four (4) days prior to the scheduled meeting date, at (512) 930-3652 or City Hall at 113 East 8th Street for additional information; TTY users route through Relay Texas at 711. Regular Session (This Regular Session may, at any time, be recessed to convene an Executive Session for any purpose authorized by the Open Meetings Act, Texas Government Code 551.) A Call to Order The Board may, at any time, recess the Regular Session to convene in Executive Session at the re request of the President, a Board Member, the City Manager, Assistant City Manager, General Manager of Utilities, City Council Member, and/or legal counsel for any purpose authorized by the Open Meetings Act, Texas Government Code Chapter 551, and are subject to action in the Regular Session that follows. B Introduction of Visitors C Discussion regarding the Project Progress Reports and Time Lines. – Bill Dryden, P.E., Transportation Engineer, and Edward G. Polasek, AICP, Transportation Services Director. D Presentation of Georgetown Transportation Enhancement Corporation monthly financial report for December 2013.- Micki Rundell, Chief Fianancial Officer, COG; Finance Manager, GTEC Legislative Regular Agenda E Consideration and possible action to approve minutes from the regular GTEC Board meeting held November 20, 2013. Paul Brandenburg, General Manager - GTEC F Consideration and possible action to authorize the purchase of 4.235 acres (Parcel 3) from JDP Properties, Ltd. in the amount of $606,000.00, plus closing costs, in connection with the Southwest Bypass Road Project – Edward G. Polasek, AICP, Transportation Services Director, and Terri Calhoun, SR/WA, R/W-NAC, Real Estate Services Coordinator G Discussion and possible action regarding amending the 2012/13 and 2013/14 GTEC Budget for projects with remaining funding and approval from 2012/13. - Micki Rundell, Chief Fianancial Officer, COG; Finance Manager, GTEC H Consideration of a Staff Report regarding The Summit at Rivery Park Project -- Bridget Chapman, City Attorney Adjournment CERTIFICATE OF POSTING I, Jessica Brettle, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the ______ day of __________________, 2014, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. ____________________________________ Jessica Brettle, City Secretary City of Georgetown, Texas SUBJECT: Call to Order The Board may, at any time, recess the Regular Session to convene in Executive Session at the re request of the President, a Board Member, the City Manager, Assistant City Manager, General Manager of Utilities, City Council Member, and/or legal counsel for any purpose authorized by the Open Meetings Act, Texas Government Code Chapter 551, and are subject to action in the Regular Session that follows. ITEM SUMMARY: FINANCIAL IMPACT: SUBMITTED BY: City of Georgetown, Texas SUBJECT: Introduction of Visitors ITEM SUMMARY: FINANCIAL IMPACT: SUBMITTED BY: City of Georgetown, Texas SUBJECT: Discussion regarding the Project Progress Reports and Time Lines. – Bill Dryden, P.E., Transportation Engineer, and Edward G. Polasek, AICP, Transportation Services Director. ITEM SUMMARY: GTEC Projects FM 1460 ROW & Utility Relocations – Project No. 5RB Lakeway Drive Overpass – Project No. 5QL NB Frontage Road (RM 2338 to Lakeway Dr.) – Project No. 5QY Northwest Blvd Overpass – Project No. 5QX Snead Drive – Project 5QZ Southwest Bypass – Project No. 5QC Wolf Ranch Pkwy Extension – Project No. 5QW GTEC Project Update & Status Report GTAB Projects FM 971 Realignment at Austin Avenue FM 1460 Improvements Project N Austin Avenue Sidewalk Improvements Safe Routes to School Project Southeast Inner Loop Corridor Study (IH 35 to Rockride Lane) Southwest Bypass Project (TIP #14C) Transit Study as Requested by City Council Transportation Services Operations – CIP Maintenance FINANCIAL IMPACT: SUBMITTED BY: Bill Dryden ATTACHMENTS: Description Type GTEC Project Updates Exhibit GTAB Project Updates Exhibit FM 1460  (Quail Valley Drive to University Drive)  Project No. 5RB     TIP No. EEa, EEb & EEc  Rights‐of‐Way Acquisition and Utility Relocation  January 2014  Project Description Acquisition of ROW and relocation of utilities for the FM 1460 Project (Quail Valley Drive  to University Drive).  Purpose To have all ROWs cleared and utilities prior to TxDOT letting the project foe construction.  Project Managers Ed Polasek, AICP and Bill Dryden, P.E.  Engineer Brown and Gay Engineers, Inc.                  Element Status / Issues  Design Engineer is working on the 90% construction plans.  Environmental/  Archeological  Environmental approved with Project Schematic.  Rights of Way    All appraisals are complete.  Final offers  have been made for all ROW parcels.  The paperwork has been filed for all  parcels requiring condemnation.  Section:  North South  Acquired:  21 8  Pending:  2 ‐  Condemnation:  13 ‐  Total:  36 8  Utility Relocations Ongoing as ROW is being acquired.  Construction Construction PS&E will be ready for a June/July 2014 TxDOT letting.  The  remainder of the unconstructed FM 1460 will be let as a single contract.  Other Issues None pending.    Lakeway Drive Overpass  Project No. 5QL     TIP No. 10  January 2014  Unchanged  Project Description   Realignment of Lakeway Drive from Airport Road to Austin Avenue (Spur 158), and  realignment of the North Bound exit ramp and its access to Austin Avenue.  Purpose This TxDOT project is designed to construct a new overpass from Austin Avenue to  Airport Road with a realigned Lakeway Drive and moving and realigning the North  Bound IH 35 Exit Ramp approximately 1000 feet to the south.  All of these improvements  will increase the safety and yield greater access for continued development in this  industrial area.  Project Manager TxDOT  Engineer Chang, Patel and Yerby, Inc.         Element Status / Issues  Design Complete  Environmental/  Archeological  Complete  Rights of Way Complete  Utility Relocations Utility relocations either complete or are part of the construction contract.  Construction Contractor is working and the schedule estimates a April 2014 completion. Contractor has closed NE Inner Loop (N Austin Ave. to Sudduth Dr.) to construct  the new roadway approach to the bridge.  TxDOT has switched Austin Avenue  traffic to the new portion of the roadway; Northeast Inner Loop remains closed.  Contractor is currently 2 months behind schedule.  Other Issues None at this time.    NB Frontage Road  (RM 2338 to Lakeway Drive)  Project No. 5QX      TIP No. QQ  January 2014  Unchanged  Project Description Design and construct a portion of an IH‐35 NB Frontage Road from Williams Drive to  Northwest Boulevard Bridge of a proposed NB FR which would ultimately extend to  Lakeway Drive.  Purpose To relieve congestion in the Williams Drive/Austin Avenue intersection by providing a NB  alternate, interim route to FM 971 and Georgetown High School. This project is the only  remaining portion of IH 35 in Central Texas without a frontage road existing, under  construction or being designed.  Project Manager Bill Dryden  Engineer Klotz Associates       Element Status / Issues  Design Task Order approved by Council December 10th for final PS&E.  Environmental/  Archeology  TBD  Rights of Way None identified  Utility Relocations TBD  Construction TBD  Other Issues None    Northwest Boulevard Overpass  (Fontana Drive to Austin Avenue)  Project No. 5QX     TIP No. QQ  January 2014  Unchanged  Project Description   Construction of overpass and surface roads to connect Northwest Boulevard with Austin  Avenue and FM 971.  Purpose This project will relieve congestion at the Austin Avenue/Williams Drive intersection and  provide a more direct access from the west side of IH 35 corridor to Georgetown High  School and SH 130 via FM 971.  Project Manager Bill Dryden, P.E.  Engineer Klotz Associates      Element Status / Issues  Design Task Order approved by Council December 10th for final PS&E.  Environmental/  Archeological  Concurrent with preliminary engineering and schematic design.  Rights of Way Concurrent with preliminary engineering and schematic design.  Utility Relocations TBD  Construction TBD  Other Issues None at this time.    Snead Drive Project  (SE Inner Loop to Airborn Circle)  Project No. 5QZ     TIP No. None  January 2014  Project Description   Develop Construction Plans Specifications and Estimate (PS&E) for the widening of Snead  Drive from S.E. Inner Loop to 600 feet north of Cooperative Way, including appurtenant  waste water improvements.  Purpose This project has been identified as GTEC eligible project and will provide necessary  infrastructure for ongoing economic development in the area.   Project Manager Bill Dryden  Engineer Steger Bizzell      Element Status / Issues  Design Engineer has begun working on the project PS&E.  Environmental/  Archeological  Included with PS&E.  Rights of Way Ongoing; partially through platting process.  Utility Relocations Utility relocations either complete or are part of the construction contract.  Construction TBD  Other Issues None    Southwest Bypass Project  (SH 29 to RM 2243)  Project No. 5QC     TIP No. 14b  January 2014  Unchanged    Project Description   Develop a Design Schematic for the Southwest Bypass from Leander Road (RM 2243) to  SH 29 and Construction Plans Specifications and Estimate (PS&E) for the construction of  approximately 1.3 miles of 2‐lane interim roadway with bridges from Leander Road to its  intersection with Wolf Ranch Parkway Extension (TIP Project No. 14A.  Purpose This project is identified as needed in the OTP and GTEC TIP.  This project, in  coordination with Wolf Ranch Parkway Extension, will provide access from Leander Road  to DB Wood Road south of SH 29, allowing alternate access from southwest to west areas  of the City, relieving the increasing traffic demand along the IH 35 corridor.   Project Manager Bill Dryden  Engineer HDR Engineering, Inc.        Element Status / Issues  Design Engineer has completed the project PS&E, less construction contract documents  and environmental permitting required at time of actual construction.  Environmental/  Archeological  Draft Report detailing the environmental, geotechnical and historical issues has  been completed and submitted to the Williamson County Conservation  Foundation for determination of issues to be mitigated.  Rights of Way ROW Acquisition process has begun; negotiations on‐going for the Weir and Guy  properties.  Wolf  property – Acquisition complete, fencing to begin as soon as practicable.  Utility Relocations None identified at this time.  Construction TBD  Other Issues None    Wolf Ranch Parkway Extension  Project  (SW Bypass to DB Wood Road)  Project No. 5QV     TIP No. 14a  January 2014  Unchanged  Project Description   Design Schematic and Plans Specifications & Estimate for the construction of a roadway  from Southwest Bypass (TIP Project # 14B) to DB Wood Road south of SH 29.  The project  is planned as a major arterial.  Purpose This project is identified as needed in the OTP and the TIP.  This project, in coordination  with Southwest Bypass (#14B), will provide access from Leander Road to DB Wood Road  south of SH 29, allowing alternate access from southwest to west areas of the City,  relieving the increasing traffic demand along the IH‐35 corridor.  Project Manager Bill Dryden, P.E.  Engineer HDR, Engineering, Inc.         Element Status / Issues  Design Engineer has completed fencing plans, and is developing bidding package.  Environmental/  Archeological  Final report concerning the environmental, geotechnical and historical issues has  been submitted for review.  Rights of Way Acquisition complete.   Utility Relocations None identified at this time.  Construction Future  Other Issues None    Current Capital Improvement Projects TIP No. Project No. Update On Schedule/ Or Behind Project Budget Project Cost Available Current Year Projected Current Year Cost Current Year Available Lakeway Drive Overpass #10 5QL Contractor is working and the schedule; estimates a August 2014 completion. Contractor has closed NE Inner Loop (N Austin Ave. to Sudduth Dr.) to construct the new roadway approach to the bridge. It will be closed until December 2013. Contractor is currently 2 months behind schedule. PAID TxDOT $2,500,000 on 9/16/2008. Behind Schedule (August 2014) Under Construction 2,500,000 2,500,000 0 0 0 Southeast Arterial 1 (Sam Houston Avenue) #12 5QG ROW Complete. Construction Complete. Two ROW Parcels have remaining issues. Completed 12,677,064 10,478,499 2,198,565 318,561 554,229 -235,668 Wolf Ranch Parkway Extension (SW Bypass to DB Wood Road) #14A 5QW ROW has been acquired. Staff has reviewed the 90% plans and returned comments to Engineer. Engineer has completed fencing plans, inclusive of potential environmental mitigation issues. Engineer has completed the project PS&E, less actual permitting required at time of construction. On Schedule Unchanged 1,330,000 1,111,233 218,767 239,600 21,250 218,350 Southwest Bypass (SH29 to RR2243)#14B 5QC ROW Acquisition process has begun; negotiations on-going for the Weir and Guy properties. Wolf property – Acquisition complete. Engineer has completed the project PS&E, less actual permitting required at time of construction. On Schedule Unchanged 6,256,432 3,219,345 3,037,087 3,059,299 3,667 3,055,632 Northwest Blvd Overpass #QQ 5QX Engineer is conducting boundary and design surveying, field investigations for environmental issues and schematic design is 50% complete. On Schedule Unchanged 565,000 619,488 -54,488 0 1,593 -1,593 NB Frontage Road (2338 to Lakeway)#QQ 5QY Subsequent to a preliminary review with FHWA, TxDOT has requested additional scope of services for the project to fully connect with the Lakeway Drive off-ramp. In addition they are requesting the design include a potential driveway into the back side of the Southwestern Plaza Property and safety improvements along Williams Drive between IH 35 and N. Austin Avenue. In-process Unchanged 250,000 231,000 19,000 19,000 19,000 GTEC PROJECT UPDATE AND STATUS REPORT January 2014 Project to Date Current Year Budget (12/13) L:\Global\CIP Agenda Form\GTEC Status Report\2014\GTEC - Project Status - 2014-01.xlsx Page 1 of 2 01/07/2014 GTEC PROJECT UPDATE AND STATUS REPORT January 2014 ROW - 1460 #EEa #EEb #EEc 5RB Engineer has completed and has held 60% review with TxDOT; proceeding with 95% construction plans, specifications and estimate. Engineer and Staff met with the utility owners April 24th to begin utility coordination and relocation scheduling. All appraisals are complete. Final offers have been made for all ROW parcels. We have reached agreement with the property on several others and are awaiting completion of the paperwork. 21 of 36 Parcels have been acquired On Schedule 1,500,000 3,032,574 -1,532,574 1,500,000 3,031,624 -1,531,624 TCS/RR Easement 5RD 1,500,000 1,503,148 -3,148 0 FM 971 / Washam 5RE 100,000 0 100,000 100,000 100,000 Rivery Road 5RF Alignment adopted by Council. Complete 750,000 29,000 721,000 750,000 29,000 721,000 Current Economic Development Projects Project Type Update On Schedule/ Or Behind Project Budget Project Cost Available Current Year Budget Current Year Cost Current Year Available 100 S. Austin Ave Eco Devo Project 5RA In-process 507,000 507,000 0 Williams Drive Gateway 5RC Engineer working on schematic design alternatives and preliminary cost estimates. On Schedule 65,000 61720 3,280 3,280 0 3,280 Economic Development Projects 1,012,500 1,012,500 1,012,500 1,012,500 7,002,240 3,641,363 3,360,877 Project to Date Current Year Budget (12/13) L:\Global\CIP Agenda Form\GTEC Status Report\2014\GTEC - Project Status - 2014-01.xlsx Page 2 of 2 01/07/2014 FM 971 at Austin Avenue  Realignment Intersection Improvements  Project No. 1BZ     TIP No. QQ1  January 2014  Project Description Design and preparation of final plans, specifications and estimates (PS&E) for the widening  and realignment of FM 971 at Austin Avenue, eastward to Gann Street.  Purpose To provide a new alignment consistent with the alignment of the proposed Northwest  Boulevard Bridge over IH 35; to allow a feasible, alternate route from the west side go IH 35  to Austin Avenue, to Georgetown High School and a more direct route to SH 130.  Project Managers Bill Dryden, P.E.  Engineer Klotz Associates, Inc.    Element Status / Issues  Design With the approval by TP&W of the land swap, the Engineer has been authorized  to proceed with the development of construction PS&E.  Environmental/  Archeological  TBD  Rights of Way Texas Parks & Wildlife has approved the land swap.  We will be developing a ROW exchange with TxDOT for the realigned roadway.  Utility Relocations TBD  Construction City and TxDOT need to develop an AFA for construction of the project by  TxDOT; schedule TBD.  Other Issues TP&W has approved the land swap; paperwork needs to be signed by City  Manager.  Funding – funds need to be transferred to Parks Bonds from Transportation  Bonds to complete the financial tracking.    FM 1460  Quail Valley Drive to University Drive  Project No. 5RB     TIP No. EEa, EEb & EEc  January 2014  Project Description Design and preparation of plans, specifications and estimates (PS&E) for the widening and  reconstruction of FM 1460.  Project will include review and update to existing Schematic,  Right‐of‐Way Map and Environmental Document and completion of the PS&E for the  remaining existing roadway.  Purpose To keep the currently approved environmental documents active; purchase ROW, effect  utility relocations/clearance and to provide on‐the‐shelf PS&E for TxDOT letting not later  than August 2013, pending available construction funding.  Project Managers Ed Polasek, AICP and Bill Dryden, P.E.  Engineer Brown and Gay Engineers, Inc.                  Element Status / Issues  Design Engineer is working on the 90% construction plans.  Environmental/  Archeological  Environmental approved with Project Schematic.  Rights of Way All appraisals are complete.  Final offers have been made  for all ROW parcels.  The paperwork has been filed for all parcels requiring  condemnation.  Acquired: 21  Pending: 2  Condemnation: 13  Total: 36  Utility Relocations Ongoing as ROW is being acquired.  Construction Construction PS&E will be ready for a June 2014 TxDOT letting with the  remaining portions of unconstructed FM 1460 to be awarded as a single contract.  Other Issues None Pending    N Austin Avenue Sidewalk Improvements  Rec Center to Georgetown High School  Project No. 1CV     TIP No. None  January 2014  Project Description Design and preparation of final plans, specifications and estimates (PS&E) for the sidewalk  improvements along N. Austin Avenue between the Georgetown Recreational Center and  Georgetown High School.  Purpose To provide a safe pedestrian route along North Austin avenue.  Project Managers Bill Dryden, P.E.  Engineer URS Corporation    Element Status / Issues  Design 100% Plans were submitted December 20th to TxDOT.  Environmental/  Archeological  Complete  Rights of Way None  Utility Relocations TBD  Construction April 2014  Other Issues None pending.    Safe Routes to School  Churchill Farms to Mitchell Elementary  Project No. 1CK     TIP No. None  January 2014  Project Description   Design and preparation of Plans, Specifications and Estimate for the construction of  sidewalk and related safety improvements along Southeast Inner Loop between Belmont  Drive and Mitchell Elementary School, to include grant and construction administration.  Purpose To provide a Safe Route to School between the Churchill Farms Subdivision and Mitchell  Elementary  Project Manager Bill Dryden, P.E.  Engineer Huitt‐Zollars, Inc.      Element Status / Issues  Design Complete  Surveying Complete  Environmental/  Archeological  None  Rights of Way Existing along Inner Loop and easement from Williamson County.  Utility Relocations None  Construction Project approximately 50% complete.  Other Issues None pending.    Southeast Inner Loop Corridor Study  (IH 35 to Rockride Lane)  Project No. None     Project No. None  January 2014  Project Description   Develop a preliminary design schematic, perform preliminary engineering and report  preparation for the Southeast Inner Loop Schematic Design from IH 35 to Rockridge Lane  (CR 110) and Sam Houston Avenue.  Purpose To determine ultimate alignment, interim and ultimate engineer’s estimates of probable  project costs and ROW needs for the future SH 29 Bypass, connecting the westerly route (SH  29 to IH 35) with Southeast Inner Loop and Sam Houston Avenue.  Project Manager Bill Dryden, P.E.  Engineer Kasberg Patrick and Associates        Element Status / Issues  Design Draft preliminary alignments and phases were presented to GTAB in November  2013; Engineer is refining these alignments and phases into a proposed schematic  with preliminary engineering.  The project will be presented to GTAB in February  2014 with recommendations of forwarding to Council.  Surveying  TBD  Environmental/  Archeological  TBD by preliminary engineering design phase.  Rights of Way To be conceptually established during the preliminary schematic phase and further  refined through the design phase.  Utility Relocations TBD (future)  Construction TBD (future)  Other Issues None at this time.    Southwest Bypass Project   (RM 2243 to IH 35)  Project No. 1CA     Project No. 14c  January 2014  Unchanged  Project Description   Develop a Design Schematic for the Southwest Bypass from Leander Road (RM 2243) to IH  35 in the ultimate configuration and Construction Plans, Specifications and Estimate (PS&E)  for construction of approximately 1.5 miles of interim 2‐lane roadway from Leander Road  (RM 2243) to its intersection with the existing Inner Loop underpass at IH 35.  The portion  from Leander Road to the east property line of Texas Crushed Stone is a GTAB Project; from  the east line to the existing Inner Loop underpass at IH 35 is being funded by GTEC.  Purpose To extend an interim portion of the SH 29 Bypass, filling in between Leander Road (RM  2243) to IH 35 Southbound Frontage Road.  Project Manager Bill Dryden, P.E.  Engineer HDR Engineering, Inc.      Element Status / Issues  Design Engineer is in preliminary engineering and schematic design phase of the facility.  Alignment has been presented to staff and management.  Surveying  City stall met with the Surveyor to resolve a conflict in the proposed ROW to be  acquired from Texas Crushed Stone.  Environmental/  Archeological  TBD by preliminary engineering phase.  Rights of Way Conceptually established by the Industrial Agreement; will be refined through the  schematic design phase.  Utility Relocations TBD by preliminary engineering phase.  Construction Future  Other Issues Williamson County has included a project in its proposed 2013 Bond Program to  construct 2 lanes of this roadway.    Transit Study  as Requested by City Council   Project No. None     Project No. None  January 2014  Unchanged  Project  Description    Council Motion:  Discussion and possible direction to the City of Georgetownʹs Transportation  Advisory Board (GTAB) to conduct an analysis and make a recommendation to the City Council  no later than June 24, 2014 ,regarding the Cityʹs potential future participation in State and  Regional Transportation Organizations including the benefits, conditions, and justification which  would prompt the Cityʹs participation in Project Connect, Lone Star Rail and any other relevant  State and Regional Transportation Organizations that the City should be involved with ‐‐ Steve  Fought, Councilmember, District 4  Amended Motion:  1. The City Manager to determine what time and effort staff have available to conduct this type  of study over the next year.  If it is not in the Transportation Division, Planning Department,  Finance Department and/or City Manager’s Office work program, as outlined in the current  draft budget, can it be adequately staffed to complete this level of work over the next year?  2. Is the challenge to research Federal, State and Regional transportation organizations or is it  transit programs?  This direction to staff is assuming it is transit programs.  3. Narrow the specific analysis to programs that are actually authorized to receive Federal  formula and discretionary funding programs found within the current Federal Transit  Administration.  However, that would narrow the field down to three agencies or programs.   Capital Metro, Lone Star Rail and the State of Texas through the Texas Department of  Transportation.  CARTS is only a contractor to Capital Metro and provides certain 5310  transit opportunities to persons outside of the Capital Metro Service Area in our jurisdiction.   CAMPO, Project Connect, Project Connect North and My35 are simply planning programs  that include staff from Capital Metro, Lone Star Rail District, and TxDOT and  representatives from local governments.  4. The analysis should be based on how those planning programs will lead to funding through  the project delivery agencies.  (Fought amended to include financial risk and benefits to the City)  5. The Council should provide the Board and staff specifics on what type of economic analysis  data will lead to an ultimate decision by the City Council.  6. Finally, some people ‘can’t see what the final project would look like’ or ‘can’t see what a  Transit Oriented Development would look like.’  Years ago, when the City was looking at  transportation options and creating a TOD ordinance, there was a field trip to perform some  on the ground research.  Members of the City Council, Planning and Zoning, and staff  (GTAB was not in existence at the time) went and stayed at a TOD to see for themselves.   We should have at least one field trip during this study.  Since it has been about 8 years or  so since that first and only field trip, it should be extremely informative to do it again and  see what a TOD looks like today and how the project has performed over the years.  Vote on the original motion as amended: Approved (6‐1) (Hesser opposed)    Project  Manager  Ed Polasek, AICP  Engineer TBD  Project Status Workplan Under Development    Transportation Services Operations   CIP Maintenance  January 2014  Project Description 2012‐2013 CIP Maintenance of roadways including, Chip seal, Cutler Overlays, Fog  seal applications and Engineering design of future rehabilitation projects.  Purpose To provide protection and maintain an overall pavement condition index of 85%.  Project Manager Mark Miller  Engineer/Engineers KPA, Steger Bizzell, Halff  Task Status / Issues  2nd and 6th Street  Engineering  (Halff)  2nd Street engineering has been added to the 2013‐14 engineering of phase  two 2nd Street (Myrtle to College).  Construction of all of 2nd will move to 2015  during VFW renovation. Initial designs were reviewed on Monday, Oct. 28th by  Parks, Engineering and Transportation Services. 6th Street under design.  Staff is  soliciting input from property owners on south side for possible sidewalk  improvements.  9th Street (Main to  Rock)  (KPA)  A conceptual schematic is complete.  Staff is currently meeting with affected  businesses to solicit input and to discuss possible issues.  Construction should  proceed in 2014.  In‐house installation of splash pad drain pending waterline  replacement.  Staff is working with electric engineer to identify and approve future  conduit assignments.  Plans are nearing 100% and ready to go to bid.  Chip Seal  Sun City Blvd. is complete.  Complaints about noise and fears of the road failing has  prompted staff to fog seal the road to help quite the road noise and help retain  aggregate.  Summercrest subdivision is also experiencing some aggregate loss.  A  new product “Quickset” by Western Emulsions is being tested on a small section of  Sun City Blvd. near SH 195. (24x40) The product is looking favorable and does allow  roads to be reopened in a little more than 15 minutes.  Staff has tentatively  scheduled Western Emulsions to apply this new product onto Sun City Blvd,  Summer Crest and Pecan Branch Subdivisions on January 20th to 27th.   (pending  weather)  Fog Seal Survey of unfinished sections complete: (Majority of scheduled work completed)  Unfinished streets will be performed in Spring 2014.  (Western Emulsions has a new  product coated with slag sand to compensate for the loss of traction due to the  asphalt coating) This should allow fog seals on some minor arterials.  Cutler/overlay Cutler on Williams Drive, Rock Street, 16th Street complete.  Additional Streets  completed as a result of chip seal failures (Austin Avenue and Del Webb Blvd.)  extended the schedule in cold weather and the holiday season.  Downtown Square  area  has been postponed till Spring (March)  Pavement  Evaluation  Staff is negotiating with KPA for Engineering services related to pavement  evaluation/scoring and update of 5 year CIP reflecting changes and updates.  Staff is  working on a Task Order to bring before GTAB in February for consideration.  2013‐14 CIP  Maintenance  Projects  Staff is negotiating with KPA for engineering services related to the 2014  maintenance projects. Staff is working on a Task Order to bring before GTAB in  February for consideration.    City of Georgetown, Texas SUBJECT: Presentation of Georgetown Transportation Enhancement Corporation monthly financial report for December 2013.- Micki Rundell, Chief Fianancial Officer, COG; Finance Manager, GTEC ITEM SUMMARY: The Bylaws of GTEC (Article V, Section 6.02) require the Finance Manager to report the financial activity of the Corporation to the Board. Budgetary report Sales Tax revenues Any other relevant financial information Sales tax is received two months in arrears; therefore the revenues reflect only the amount received, not actually earned, as of the report date. A report on payments made to vendors for the month of December is also included. FINANCIAL IMPACT: SUBMITTED BY: La'Mar Kemp - Becky Huff ATTACHMENTS: Description Type Budget Backup Material Tax Backup Material Payments Backup Material Georgetown Transportation Enhancement Corporation December 31, 2013 2013/2014 Budget December 31, 2013 Year To Date Variance Beginning Fund Balance 4,364,130 8,914,363 [A] 4,550,233 Fund balance to be rolled forward from PY 12/13 4,776,457 Revenue: Sales Tax Revenue 4,550,000 383,581 (4,166,419) Interest 15,000 1,340 (13,660) Reimbursement due from TXDOT 6,054,785 1,830,453 (4,224,332) PID Assessments (Wolf Ranch Agreement) 500,000 (500,000) Debt Proceeds 831,000 (831,000) Total Revenue 11,950,785 2,215,373 (9,735,412) Expense: Operating Expenses Administrative Expense & Supplies 344,963 36,777 308,186 Debt Service 2,709,518 2,709,518 Issuance Cost 6,000 6,000 Transporation Improvement Program Fontana Drive to Austin Avenue 471,178 [C]479,588 (8,410) NB Front Rd 363,822 [C]382,822 (19,000) Snead Drive 825,100 87,000 738,100 SW Bypass - 2243 to IH35 1,500,000 1,500,000 Wolf Ranch Pkwy Extension 65,000 65,000 Economic Development Projects To be determined 1,137,500 1,137,500 Subtotal 7,423,081 Projects to be rolled forward [D] Row -1460 (TxDOT to reimburse 90%)6,727,539 2,033,837 4,693,702 Fontana Drive to Austin Avenue 100,000 100,000 NB Front Rd 19,000 19,000 SW Bypass - 2243 to IH35 3,039,107 118 3,038,989 Rivery Road 750,000 - 750,000 Wolf Ranch Pkwy Extension 218,350 - 218,350 IH35/Hwy29 Intersection Improvements 650,000 650,000 Subtotal 11,503,996 Total Expense 18,927,077 3,020,141 15,906,936 Fund Balance 2,164,295 2,640,360 Reservations Contingency = 90 days sales tax receipts 1,262,500 1,262,500 Unreserved Fund Balance - Budgeted 901,795 1,377,860 Current Assets (cash) Cash - general/debt service 3,898,577 Certificates of Deposits 5,004,682 Amortization of investments 834 Current UNRESERVED Assets Total: 8,904,092 Bond Proceeds 220,037 TOTAL CASH ON HAND 9,124,129 FUNDS AVAILABLE FOR PROJECTS Economic Development Projects to be determined 1,137,500 Appropriated per policy TOTAL UNCOMMITTED AVAILABLE FUNDS 1,137,500 [A] Preliminary Beginning Fund Balance [B] Sales tax posts two months after collections. [C] Pending Budget Amendment to correct shortfalls [D] Budget Amendment for roll forward projects from 2012/13 is being taken to City Council in January 2014 Prepared by: LKemp 1/10/2014 L:\Division\finance\Share2\AGENDA\GTEC\2014\Finreports\201312-December Georgetown Transportation Enhancement Corportation Variance % Var. MONTH [a] 2009-10 2010-11 2011-12 2012-13 2013-14 To FY 13 To FY 13 October 273,537 264,484 281,056 345,296 367,451 22,155 6.42% November 275,981 309,844 297,888 328,333 398,208 69,876 21.28% December 381,953 467,122 447,872 470,330 January 239,368 271,870 292,708 330,857 February 225,012 231,618 291,782 311,562 March 383,645 432,060 423,287 462,254 April 281,404 288,399 325,447 337,678 May 268,813 293,230 323,676 377,648 June 421,739 404,048 398,654 456,529 July 328,637 279,124 359,877 371,061 August 299,600 300,806 343,168 370,942 September 347,715 359,326 353,337 500,787 Total $3,727,403 $3,901,931 $4,138,751 $4,663,277 $765,659 $92,031 YTD 549,518 574,328 578,944 673,629 765,659 92,031 13.66%[b] Notes: [a] Sales tax revenue from the State Comptroller is received two months in arrears. [b] YTD compared thru current month. $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Do l l a r s Month Sales Tax 3 Year Trend 2011-12 2012-13 2013-14 Prepared by: LKemp 1/10/2014 L:\Division\finance\Share2\AGENDA\GTEC\2014\Finreports\201312-December 1/07/2014 10:52 AM A/P HISTORY CHECK REPORT PAGE: 3 VENDOR SET: 02 CITY OF GEORGETOWN BANK: JPM JP MORGAN CHASE DATE RANGE:12/01/2013 THRU 12/31/2013 CHECK INVOICE CHECK CHECK CHECK VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT 10140 GEORGETOWN TITLE COMPANY I-100065359 GEORGETOWN TITLE COMPANY R 12/12/2013 1,722,686.46 199739 1,722,686.46 011230 ALLIANCE TRANSPORTATION GROUP, I-7742-FINAL SUMMIT AT RIVERY PARK R 12/19/2013 949.25 199768 949.25 011240 GARDERE WYNNE SEWELL LP I-1126665 INVOICES R 12/19/2013 1,091.50 199769 I-1126666 INVOICES R 12/19/2013 147.50 199769 I-1126667 INVOICES R 12/19/2013 118.00 199769 I-1126668 INVOICES R 12/19/2013 413.00 199769 I-1126669 INVOICES R 12/19/2013 560.50 199769 I-1126670 INVOICES R 12/19/2013 295.00 199769 I-1126671 INVOICES R 12/19/2013 238.00 199769 I-1126672 INVOICES R 12/19/2013 295.00 199769 I-1126673 INVOICES R 12/19/2013 449.50 199769 I-1126674 INVOICES R 12/19/2013 713.00 199769 4,321.00 011210 HALFF ASSOCIATES, INC I-GT178837 HAI 13-001 R 12/19/2013 4,685.88 199770 4,685.88 10990 KLOTZ ASSOCIATES, INC. I-1013056 KAI 13-002 R 12/19/2013 3,147.56 199771 I-1013057 KAI 10-001 1ST AMENDMENT R 12/19/2013 20,792.14 199771 I-1013116 RIVERY PARK TIA R 12/19/2013 387.50 199771 24,327.20 * * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT REGULAR CHECKS: 5 1,756,969.79 0.00 1,756,969.79 HAND CHECKS: 0 0.00 0.00 0.00 DRAFTS: 0 0.00 0.00 0.00 EFT: 0 0.00 0.00 0.00 NON CHECKS: 0 0.00 0.00 0.00 VOID CHECKS: 0 VOID DEBITS 0.00 VOID CREDITS 0.00 0.00 0.00 TOTAL ERRORS: 0 NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT VENDOR SET: 02 BANK: JPM TOTALS: 5 1,756,969.79 0.00 1,756,969.79 BANK: JPM TOTALS: 6 1,756,969.79 0.00 1,756,969.79 REPORT TOTALS: 30 1,756,969.79 0.00 1,756,969.79 City of Georgetown, Texas SUBJECT: Consideration and possible action to approve minutes from the regular GTEC Board meeting held November 20, 2013. Paul Brandenburg, General Manager - GTEC ITEM SUMMARY: Board to review the minutes from the meeting held on November 20, 2013 and revise or approve. FINANCIAL IMPACT: SUBMITTED BY: Jana Kern ATTACHMENTS: Description Type Minutes Backup Material City of Georgetown, Texas SUBJECT: Consideration and possible action to authorize the purchase of 4.235 acres (Parcel 3) from JDP Properties, Ltd. in the amount of $606,000.00, plus closing costs, in connection with the Southwest Bypass Road Project – Edward G. Polasek, AICP, Transportation Services Director, and Terri Calhoun, SR/WA, R/W- NAC, Real Estate Services Coordinator ITEM SUMMARY: Staff is in the process of acquiring right-of-way for the future construction of the Southwest Bypass Road Project. The subject 4.235-acre parcel is required for the project. An independent appraisal was performed by David W. Oberrender, MAI, and Larry D. Kokel, MAI, of Kokel-Oberrender-Wood Appraisal, Ltd. to determine the fair market value of the property and an offer was made based thereon. The landowner has accepted the appraised value of $606,000.00 as the total fair market value compensation for the property. Staff is seeking the Board's authorization to proceed with closing on the purchase of the property for that amount, plus closing costs. FINANCIAL IMPACT: To be funded from Project No. 1CA budget, General Ledger Account No. 400-9-0980-90-024. SUBMITTED BY: Terri Glasby Calhoun ATTACHMENTS: Description Type ROW parcel map and survey Backup Material Exerpt from appraisal (Summary of Salient Facts) Backup Material City of Georgetown, Texas SUBJECT: Discussion and possible action regarding amending the 2012/13 and 2013/14 GTEC Budget for projects with remaining funding and approval from 2012/13. - Micki Rundell, Chief Fianancial Officer, COG; Finance Manager, GTEC ITEM SUMMARY: 12/13 budget to be amended due to Advance Funding Agreement being budgeted at City's cost not project cost. Budget amendment to be off-set by AFA with TxDot. 12/13 budget $ 8,293,700 The projects listed below have previous approval for funding. This amendment is to roll the appropriation from 12/13 into 13/14. GTEC Fund $ 11,503,996 -Transportation Projects These projects were approved in previous fiscal years. FINANCIAL IMPACT: The funding for these projects were projected to have been spent last year and were not, therefore actual year end fund balance was greater than projected. This entry does not impact the ending 2013/14 budget fund balance. SUBMITTED BY: La'Mar Kemp - Becky Huff ATTACHMENTS: Description Type Exhibit A - Budget Amendment Backup Material Exhibit B - Roll Forwards Backup Material ### GTEC Budget Revenues/Sources: Fund Balance - $ 494,530 TxDOT Reimbursement (8,788,230) Total $ (8,293,700) Expenditures FM1460 8,264,700 Rivery Road 29,000 Total 8,293,700 Excess revenue over expenses $0 EXHIBIT A Budget Amendment GTEC Budget Revenues/Sources: Fund Balance - Rolled Projects from 12/13 $ (5,449,211) TxDOT Reimbursement (6,054,785) Total $ (11,503,996) Expenditures FM 1460 6,727,539 SH 29 to RM2243 (SW Bypass) 3,039,107 Wolf Ranch Pkwy Extension 218,350 NB Front Rd (RM2338 to Lakeway) 19,000 NW Blvd Overpass( Fontana to Austin) 100,000 Rivery Road 750,000 IH 35 / Hwy 29 intersection Improvements 650,000 Total 11,503,996 Excess revenue over expenses $0 EXHIBIT B Budget Amendment Roll Forwards City of Georgetown, Texas SUBJECT: Consideration of a Staff Report regarding The Summit at Rivery Park Project -- Bridget Chapman, City Attorney ITEM SUMMARY: The City Council approved the Performance Agreement for The Summit at Rivery Park Project on December 10, 2013. The Performance Agreement includes the terms approved by GTEC at the November 2013 meeting. The Performance Agreement and the Project Financial Summary is submitted for review and information of the Board. Attachments: GTEC Performance Agreement Financial Summary FINANCIAL IMPACT: SUBMITTED BY: Bridget Chapman, City Attorney ATTACHMENTS: Description Type GTEC Performance Agreement Backup Material GTEC Performance Agreement The Summit at Rivery Park Page 1 of 34 GEORGETOWN TRANSPORTATION § § PERFORMANCE AGREEMENT ENHANCEMENT CORPORATION § § THE SUMMIT AT RIVERY PARK CITY OF GEORGETOWN, TEXAS § This PERFORMANCE AGREEMENT (“Agreement”) is between NOVAK BROTHERS, LLC, a Texas limited liability company, whose mailing address is 201 Adams Street, Georgetown, Texas 78628 (“Developer”), the GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION, a Texas non-profit corporation, whose mailing address is 113 E. 8th Street, Georgetown, Texas 78626 (“GTEC”), and the CITY OF GEORGETOWN, a Texas Home Rule municipality, whose making address is 113 E. 8th Street, Georgetown, Texas 78626 (the “City”). Developer, GTEC and the City are referred to collectively in this Agreement as “the Parties.” WHEREAS, Brae Group Ltd., a Texas limited partnership, is the owner of a 31.319-acre portion of the Property (defined herein) shown by sketch on Exhibit A; WHEREAS, Novak Brothers Texas Brownstones, LLC, a Texas limited liability company, is the owner of a 0.613-acre portion of the Property shown by sketch on Exhibit A; WHEREAS, the Property is the subject of several other agreements by or among some or all of the Parties pursuant to which the Property is to be developed with new business enterprises – specifically, the Hotel (defined herein) and the Conference Center (defined herein) – and with other improvements such as the Public Parking Garage (defined herein), residential townhomes, apartments, and other uses as may be allowed under the zoning ordinances applicable to the Property; WHEREAS, GTEC is a Type B economic development corporation created in 2001 pursuant to the predecessor statute of Chapter 505 of the Texas Local Government Code; WHEREAS, the ballot language from the May 2001 election at which the Type B sales tax was approved provided as follows: The adoption of an additional sales and use tax within the City at the rate of one half (1/2) of one percent as authorized by Section 4B, Article 5190.6, V.T.C.S., as amended, with the proceeds thereof to be used for and applied for project costs for streets, roads, drainage and other related GTEC Performance Agreement The Summit at Rivery Park Page 2 of 34 transportation system improvements, including the payment of maintenance and operating expenses associated with such authorized projects. WHEREAS, if consistent with the ballot language, GTEC is authorized to finance “projects” as that term is defined in various sections of Chapters 501 and 505 of the Texas Local Government Code; WHEREAS, Section 501.103 of the Texas Local Government Code, in pertinent part, defines the term "project" to mean "expenditures that are found by the board of directors [of the economic development corporation] to be required or suitable for infrastructure necessary to promote or develop new or expanded business enterprises, limited to: (1) streets and roads, rail spurs, water and sewer utilities, electric utilities, or gas utilities, drainage, site improvements, and related improvements; (2) telecommunications and Internet improvements; or (3) beach remediation along the Gulf of Mexico;" WHEREAS, the Board of Directors of GTEC has found that the expenditure of GTEC funds to aid in the construction of the Public Roadways (herein defined) in accordance with the terms and conditions of this Agreement is an expenditure that is required or suitable for infrastructure necessary to promote or develop new or expanded business enterprises (i.e., the Hotel and Conference Center) and development of the Property consistently with the Revised PUD Ordinance (defined herein) and the Related Documents (defined herein); WHEREAS, following notice and a public hearing on GTEC’s proposed financial participation in construction of the Public Roadways in the amount of the GTEC Share (defined herein), the GTEC Board of Directors determined that (1) expenditure of the GTEC Share for the Public Roadways is an expenditure that meets the definition of "project" as that term is defined Section 501.103 of the Texas Local Government Code; (2) the proposed expenditure of the GTEC Share for the Public Roadways meets the definition of "cost" as that term is defined by Section 501.152 of the Texas Local Government Code; and (3) the GTEC Share is included in the GTEC budget, which has been approved by the City Council; WHEREAS, the Parties understand and agree that Section 501.073(a) of the Texas Local Government Code requires the City Council of the City of Georgetown, Texas, to approve all programs and expenditures of GTEC, and accordingly this Agreement is not effective until City Council has approved this Agreement at a City Council meeting called and held for that purpose. GTEC Performance Agreement The Summit at Rivery Park Page 3 of 34 NOW, THEREFORE, for and in consideration of the agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: SECTION 1. RECITALS INCORPORATED. The foregoing recitals are hereby found to be true and correct and are incorporated into the body of this Agreement by reference and shall be considered part of the mutual covenants, consideration and promises that bind the Parties. SECTION 2. TERM. This Agreement shall be effective as of the Effective Date and shall continue thereafter until all obligations of the Parties under this Agreement and the Related Documents (defined herein) have been performed in full, unless terminated sooner in accordance with the terms of this Agreement. SECTION 3. DEFINITIONS. The following words shall have the following meanings when used in this Agreement. (a) Agreement. The word "Agreement" means this Performance Agreement, together with all Exhibits attached to this Agreement. (b) Applicable Laws. The words “Applicable Laws” mean and include all of the following: all federal, state and local laws, ordinances, orders, specifications, standards, and regulations pertaining to the development of the Property, including, without limitation, the Texas Commission on Environmental Quality laws and rules for construction over the Edwards Aquifer Recharge Zone; the City’s Code of Ordinances, Unified Development Code, Construction Specifications and Standards, Drainage Criteria Manual, Building Codes, Fire Codes, Inspection Guidelines, and Development Manual; and the final City- approved construction plans and specifications for the Public Roadways, Public Improvements, Hotel, Conference Center, and Public Parking Garage. (c) Board. The word “Board” means the Board of Directors of the Georgetown Transportation Enhancement Commission (GTEC). GTEC Performance Agreement The Summit at Rivery Park Page 4 of 34 (d) Brae. The word “Brae” means BRAE GROUP, LTD., a Texas limited partnership whose general partner is Developer and whose mailing address is 201 Adams Street, Georgetown, Texas 78628, and Brae’s successors and assigns. (e) City. The word “City” means the City of Georgetown, Texas. (f) City Council. The words “City Council” mean the City Council of the City of Georgetown, Texas. (g) Conference Center. The words “Conference Center” mean the conference center to be constructed by Hines (defined herein) on the Property in the area shown on Exhibit B as “Zone B1,” having a ballroom at least 16,000 square feet in size, and being capable of hosting multiple small scale events constructed and operated pursuant to the applicable Related Documents. (h) Construction Deadline. The words “Construction Deadline” mean _______________________________, 2015. (i) Developer. The word “Developer” means Novak (defined herein). (j) Effective Date. The words "Effective Date" mean _________________________. (k) Event of Default. The words "Event of Default" mean and include any of the Events of Default set forth below in the section of this Agreement entitled "Events of Default.” (l) "GTEC. The word "GTEC" means the GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION, a Texas non-profit corporation formed and operating under Chapter 505 of the Texas Local Government Code, its successors and assigns, whose corporate address for the purposes of this Agreement is 113 E. 8th Street, Georgetown, Texas 78626. (m) GTEC Share. The words “GTEC Share” means an amount of Qualified Expenditures not to exceed SEVEN HUNDRED FIFTY THOUSAND DOLLARS ($750,000). (n) Hines. The word “Hines” means Hines Georgetown Hotel LLC, a Texas limited liability company whose address for purposes of this Agreement is 811 Main Street, Suite 4100, Houston, Texas 77002, and Hines’ successors and assigns. (o) Hotel. The word "Hotel" means an upscale hotel having at least 221-rooms and a AAA 3 Diamond Rating or a 2 Star Forbes Rating (based on the 2013 hotel rating GTEC Performance Agreement The Summit at Rivery Park Page 5 of 34 systems) in the Starwood Hotels & Resorts Worldwide, Inc. brand to be constructed by Hines on the Property in the area described on Exhibit B as “Zone B1” constructed and operated pursuant to the applicable Related Documents. (p) Novak or Developer. The words "Novak" or “Developer” mean NOVAK BROTHERS, LLC, a Texas limited liability corporation, whose mailing address is 201 Adams Street, Georgetown, Texas 78628, and Novak’s successors and assigns. (q) Property. The word "Property" means that certain real property consisting of 31.94 acres of land, more or less, in the City of Georgetown, Williamson County, Texas, which is bounded by IH-35 to the east, Rivery Blvd. to the south, and the San Gabriel River to the west and east and known locally as The Summit at Rivery Park and more specifically described by sketch on Exhibit A, attached hereto and incorporated herein for all purposes. (r) Public Parking Garage. The words “Public Parking Garage” mean the multi- level above-ground public parking garage having at least 336 spaces to be constructed by Hines on the Property in the area described on Exhibit B as “Zone B1” constructed and operated pursuant to the applicable Related Documents. (s) Public Roadway(s). The words "Public Roadways" mean and include the improvements described below and further depicted on Exhibit C of this Agreement, which is attached hereto and incorporated herein for all purposes: (1) the extension of Wolf Ranch Parkway from its current terminus at Rivery Blvd. to the proposed Woodlawn Avenue (approximately 350 linear feet); (2) that portion of the proposed Woodlawn Avenue in front of Block F, Lot 1 of the Final Plat for The Summit at Rivery Park, Phases 5 and 6 (approximately 500 linear feet); (3) a new left turn lane from east bound Rivery Blvd. to the proposed extension for Wolf Ranch Parkway (approximately 200 linear feet); and (4) traffic signal reconstruction at the intersection of Rivery Blvd. and Wolf Ranch Parkway. Each of the foregoing four (4) improvements are referred to individually herein as a “Public Roadway.” The term Public Roadway(s) does not mean or include the landscaping, irrigation improvements, or other improvements that may be located within the medians or rights-of-way of the Public Roadway(s). GTEC Performance Agreement The Summit at Rivery Park Page 6 of 34 (t) Qualified Expenditures. The words "Qualified Expenditures" mean those certain expenditures by Developer that meet all of the following criteria: (1) are associated with the construction of the Public Roadways (and no other improvements) and are described on Exhibit D, attached hereto, (2) meet the definitions of "project" as that term is defined in Section 501.103 of the Texas Local Government Code, (3) meet the definition of "cost" as that term is defined in Section 501.152 of the Texas Local Government Code; and (4) do not exceed the GTEC Share (regardless of the estimated costs shown on Exhibit D). (u) Reimbursement Conditions. The words “Reimbursement Conditions” mean and include each, every, and all of the following events: (1) With regard to the Public Roadways: (i) Developer has acquired rights from Brae to construct the Public Roadways on the Property; (ii) the Public Roadways have been finally constructed in accordance with all Applicable Laws, this Agreement, and the Related Documents (defined herein); (iii) the City has issued Letters of Acceptance for the Public Roadways; and (iv) the City has approved the title commitment and form of deed required by Section 4(l) of this Agreement; and (2) the Hotel has been finally constructed in accordance with all Applicable Laws, this Agreement, and the Related Documents, a final Certificate of Occupancy has been issued by the City for the Hotel; and (3) the Conference Center has been finally constructed in accordance with all Applicable Laws, this Agreement, and the Related Documents, a final Certificate of Occupancy has been issued by the City for the Conference Center; and (4) the Parkland Improvements (as that term is defined in the Parkland Improvements Agreement) have been finally constructed in accordance with all Applicable Laws, the Parkland Improvements Agreement, and the Related Documents, and accepted for maintenance by the City; and (5) the Public Parking Garage has been finally constructed in accordance with all Applicable Laws, this Agreement, and the Related Documents; the City has issued a final certificate of occupancy for the Public Parking Garage, a bill of sale and/or deed in a form acceptable to the City has been executed by the necessary parties transferring ownership of the Public Parking Garage to the City at no additional cost to the City and free and clear of all liens and other encumbrances; GTEC Performance Agreement The Summit at Rivery Park Page 7 of 34 (6) all documentation substantiating the Reimbursement Request required by Section 5(c) of this Agreement has been submitted to and approved by the City and GTEC; and (7) Developer is has fully performed and complied with, and is not in default or breach of, any terms or conditions contained in this Agreement or any Related Document. (v) Related Documents. The words "Related Documents" mean and include, without limitation all of the ordinances and agreements pertaining to the Property, including but not limited to: (1) the Memorandum of Understanding for the Hotel, Conference Center and Parking Garage at The Summit at Rivery Park dated May 14, 2013 between the City, Developer, and Hines Interests Limited Partnership, a Delaware limited partnership and an affiliate of Hines; (2) the Parkland Improvement Agreement between the City and Brae effective June 26, 2013; (3) the Joint Use, Access and Lease Agreement between the City and Hines pertaining to the Public Parking Garage and the Conference Center; (4) the Tax Increment Financing Agreement between the City and Williamson County, as amended; (5) City Ordinance No. 2007-91, as amended by Ordinance No. 2008-63, Ordinance No. 2010-30, and Ordinance No. 2013-___ relating to the Rivery Park Tax Increment Reinvestment Zone; (6) City Ordinance No. 2013-____________ being the revised Planned Unit Development Ordinance pertaining to zoning and development standards for the Property; (7) the Performance Agreement between the Georgetown Economic Development Corporation (GEDCO), Developer, and Hines; (8) the Final Site Plan(s) approved by the City for the Property; (9) the Master Development Agreement between the City, Developer, and Hines pertaining to development of the Property; and GTEC Performance Agreement The Summit at Rivery Park Page 8 of 34 (10) all promissory notes, loan agreements, and all other instruments and documents, whether now or hereafter existing, executed in connection with the Property. (w) Term. The word "Term" means the term of this Agreement as specified in Section 2 of this Agreement. SECTION 4. AFFIRMATIVE COVENANTS OF DEVELOPER. (a) Obtain Rights in Property. Developer shall cause Brae to transfer all rights, title and interest in the Property, or portions of the Property, when and as are necessary for Developer to construct the Public Roadways in accordance with this Agreement. By the signature below of its duly authorized representative, Brae acknowledges and agrees that it has the obligation to timely transfer such rights, tile, and interest in the Property, or portions of the Property, to Developer so that Developer can comply with the terms and conditions of this Agreement. Prior to requesting issuance of the Notice to Proceed pursuant to Section 4(d) of this Agreement, Developer shall provide the City with written documentation evidencing Developer’s right to construct the Public Roadways on the Property. (b) Duty to Construct. Developer shall construct or cause to be constructed the Public Roadways in accordance with the provisions of this Agreement. Final completion of all of the Public Roadways by Developer and acceptance of same by the City must occur not later than the Construction Deadline, subject to reasonable Force Majeure as set forth in Section 9 of this Agreement. (c) Construction Details. Not later than ninety (90) days after the Effective Date, Developer shall submit detailed construction plans and specifications for each of the Public Roadways (the “Construction Details”). The Construction Details shall include, for each Public Roadway, the following information: detailed plans and specifications that are consistent with all Applicable Laws, construction schedule, proposed temporary construction access in relationship to Rivery Park and existing streets, the estimated cost of constructing each Public Roadway as determined by a professional engineer, and, if necessary, alternate access options for visitors to Rivery Park during construction of a Public Roadway. Within thirty (30) calendar days of receipt of the Construction Details, the City shall respond to Developer by either approving the Construction Details or conditionally approving the Construction Details subject to additional requirements or alterations mutually acceptable to the City and Developer. Failure of the City to respond to the submittal of the Construction Details within the thirty (30) day period shall not be deemed to be acceptance of same by the City. GTEC Performance Agreement The Summit at Rivery Park Page 9 of 34 (d) Notice to Proceed. Construction shall not commence on a Public Roadway until Developer has received a written "Notice to Proceed" from the City’s Development Engineer for that specific Public Roadway. No Notice to Proceed shall be valid unless and until Developer has provided the documentation required by Section 4(a) of this Agreement, the performance and payment bonds required by Section 4(h) of this Agreement, and the Insurance required by Section 6 of this Agreement. (e) Approved Plans. All work must be performed in compliance with the Applicable Laws and with the City-approved Construction Details, construction plans and specifications for the Public Roadways (collectively, the “Approved Plans”). All work performed under this Agreement must also be free from design and construction defects. In addition, Developer shall follow all City ordinances and other rules and regulations regarding permits and approvals related to activities and construction of the Public Roadways, as well as those of any other governmental entity having jurisdiction. (f) Initial Costs. All costs of the Public Roadways, including any increases in the actual costs of the Public Roadways, including cost increases, change orders and overruns initially shall be borne by Developer. Costs include, but are not limited to, consultant fees, design costs, landscaping costs, labor costs, site restoration and re- vegetation costs, materials costs, engineering costs, legal fees, utility connection fees, permits, inspection fees, insurance costs and any other costs incurred in the design and construction of the Public Roadways. (g) No Liens. Developer shall have no right to place liens on the Public Roadways or any other publicly-owned property, and shall not allow any liens to be placed against the Public Roadways or any publicly-owned property by any contractor, subcontractor, employee, agent or assign or one or more of them (the "Contractors") or their vendors. Developer agrees that the City will not accept for maintenance or ownership any Public Roadways burdened by any lien or any other encumbrance. (h) Payment and Performance Bonds. Prior to and as a condition of the City’s issuance of the Notice to Proceed, Developer shall post, or cause the Contractors to post, performance and payment bonds in the full amounts of the contract price for each Public Infrastructure Improvement. The form and amount of the bonds comply with Chapter 2253 of the Government Code. (i) Diligent Prosecution of the Work. Developer shall diligently prosecute completion of the Public Roadways and coordinate all construction activity with the City’s Development Engineer following issuance of the Notice to Proceed. In addition to obtaining any required street closure permits, if necessary, a minimum of fourteen (14) business days notice must be given to the City’s Parks & Recreation Department GTEC Performance Agreement The Summit at Rivery Park Page 10 of 34 Director to temporarily close any part of Rivery Park for any reason or to temporarily suspend access to any part of Rivery Park to facilitate or perform work under this Agreement. (j) As-Built Plans. After construction of each Public Roadway, Developer shall submit a set of construction plans for each Public Roadway certified as “as-built” by the engineer responsible for preparing the Approved Plans. (k) Completion Notice. Upon completion of construction of the Public Roadways, Developer shall deliver to the City written notice that construction of the Public Roadways have been completed and are ready for final inspection, that the Maintenance Bond required by Section 4(o) of this Agreement is in place, and that Developer has submitted a set of construction plans for the completed Public Roadways certified as “as-built” by the engineer responsible for preparing the construction plans for the Public Roadways (collectively, the "Completion Notice"). Within fourteen (14) business days of receipt of the Completion Notice, the City shall respond to Developer by either submitting a list of items still requiring completion or modification, or by accepting the Public Roadways by Letter of Acceptance (the “Letter of Acceptance”). Final acceptance of the Public Roadways shall be evidenced by a Letter of Acceptance from the City, but shall not be valid unless and until the Maintenance Bond required by Section 4(o) of this Agreement is in place. Failure to respond to a Completion Notice within the 14-day period shall be not deemed acceptance by the City. Notwithstanding the foregoing, the City shall not be responsible for maintenance of any landscaping, irrigation improvements, or other amenities or improvements that may be placed in the median(s) or in the rights-of-way of the Public Roadway(s). (l) Warranty Deed. Within five (5) calendar days of the date of the Letter of Acceptance, Developer shall convey to the City at no cost to the City and by General Warranty Deed the Public Roadways. The Developer shall provide a title insurance policy to the City insuring the City’s record title to the Public Roadways, and shall pay all property taxes and closing costs so that the City takes the Public Roadways free of all taxes and liens. The deed(s) shall be in a form approved by the City. All pre- and post- closing taxes and all closing costs shall be borne solely by the Developer. No final plat for any portion of the Property located in Zones B1, B2, or B3 (as shown on Exhibit B) any part of the Property shall be issued unless and until the Public Roadways are properly conveyed to the City. (m) Maintenance Period. Developer hereby warrants that the Public Roadways will be free from defects for a period of one (1) year from the date the City accepts the construction of the Public Roadways (the "Maintenance Period"). The Developer shall correct and repair, or cause to be corrected and repaired, any defects in materials or GTEC Performance Agreement The Summit at Rivery Park Page 11 of 34 workmanship of a Public Roadway that occurs before and during the Maintenance Period due to any cause. (n) Transfer of Warranties. Within thirty (30) days after the date of the Letters of Acceptance for the Public Roadways, Developer shall transfer to the City all contractor, subcontractor, consultant and manufacturer warranties for the Public Roadways. (o) Maintenance Bond. For all of the Public Roadways, as a condition of the City’s acceptance of dedication of the Public Roadways, and to secure the Developer’s warranty obligations during the Maintenance Period, the Developer shall provide a Maintenance Bond in the amount of Twenty Five Percent (25%) of the total cost of constructing all of the Public Roadways (the “Maintenance Bond”). The Maintenance Bond must be in a form approved for use in the City’s Development Manual. The Public Roadways must meet the all Applicable Laws at the end of the Maintenance Period in order for the City to release the Maintenance Bond. Upon release of the Maintenance Bond, Developer shall have no further obligations or responsibility for the Public Roadways. (p) Timely Payments. Developer shall make timely payment for all aspects of properly performed engineering, design, construction work (including inspection fees), and for all materials and services relating to the Public Roadways in accordance with the applicable construction contract and design services contracts for the Public Roadways. Notwithstanding the foregoing, however, Developer shall have the right to contest payment amounts so long as Developer causes any disputed amount to be escrowed or any lien resulting therefrom to be released by bond within thirty (30) days from the date of such lien. SECTION 5. PARTICIPATION BY GTEC. (a) Initial Payment. Developer shall initially pay all costs associated with the construction of the Public Roadways. (b) Amount of Cost Reimbursement. Only Qualified Expenditures are eligible for reimbursement under this Agreement. In no event shall the total amount of Qualified Expenditures eligible for reimbursement under this Agreement shall exceed the GTEC Share. Developer understands and acknowledges that the actual cost of the Public Roadways is likely to exceed the GTEC Share, and further understands and acknowledges that any costs or expenses associated with the Public Roadways in excess of the GTEC Share shall be borne solely by Developer and that neither the City nor GTEC shall be responsible for any costs over and above the GTEC Share. GTEC Performance Agreement The Summit at Rivery Park Page 12 of 34 (c) Submittal of Reimbursement Request. After the fulfillment of all of the Reimbursement Conditions, Developer shall submit to the City and to GTEC a final consolidated report of all Qualified Expenditures associated with the Public Roadways, including all necessary supporting information and documentation (the “Reimbursement Request”). Such information shall include, but not be limited to, payment applications, cancelled checks evidencing payment, lien waivers from the Contractor and all subcontractors and suppliers, the warranties required by Section 4(n) and the Maintenance Bond required by Section 4(o). The Reimbursement Request must also include a statement signed by the Contractor and signed and sealed by the project engineer (who shall be a registered professional engineer licensed to practice in the State of Texas) attesting to the amount of the work performed, labor furnished, materials included, and the actual costs of each of the Qualified Expenditures shown on Exhibit D. Developer agrees to provide all information and documents in its possession or under its control reasonably required by the City and GTEC for proper processing and for accurate accounting and documentation of actual costs for the construction of the Public Roadways. The Reimbursement Request will not be considered until after all of the Reimbursement Conditions have been completed. (d) Review and Processing of Reimbursement Request. Provided that all of the Reimbursement Conditions have been fulfilled, the City and GTEC shall promptly review the Reimbursement Request and respond to Developer within fifteen (15) business days after the receipt of a complete Reimbursement Request. (1) If both the City and GTEC approve the Reimbursement Request, the City or GTEC shall give Developer written notice of their approval thereof within fifteen (15) business after its receipt of the Reimbursement Request (the “Approval of Reimbursement Request”), but failure by the City or GTEC to respond to the Reimbursement Request within fifteen (15) business shall not be construed to be approval by the City or GTEC of the Reimbursement Request. Within fifteen (15) business days after the City and GTEC provide Developer with their Approval of Reimbursement Request, GTEC shall pay to Developer the amount specified in the Approval of Reimbursement Request, not to exceed the GTEC Share. (2) If the City or GTEC determine that the amount owing to Developer is less than the amount submitted by Developer in the Reimbursement Request, the City or GTEC shall work diligently and in good faith with Developer to resolve the discrepancy within thirty (30) business days. If the Parties are unable to resolve the discrepancy within thirty (30) business days, each Party shall have the rights and remedies available to it at law and in equity to enforce this Agreement. GTEC Performance Agreement The Summit at Rivery Park Page 13 of 34 (e) Payment of Reimbursement Request. GTEC hereby appropriates the GTEC Share from lawfully available funds to pay future Reimbursement Requests, subject to all other conditions to reimbursement required by this Agreement. The City shall have no obligation to expend any funds under this Agreement. SECTION 6. INSURANCE Prior to and as a condition of the City’s issuance of the Notice to Proceed, Developer shall procure and maintain, or cause its Contractors to procure and maintain insurance coverages in accordance with the requirements as set forth in Exhibit E to this Agreement, which is attached hereto and incorporated herein for all purposes as if set forth in full. Such insurance coverages shall remain in full force and effect for the duration of this Agreement. SECTION 7. EVENTS OF DEFAULT. Each of the following shall constitute an Event of Default under this Agreement: (a) Failure to Construct. Failure of Developer or Hines (as applicable) to construct the Hotel, Conference Center, Public Parking Garage, Public Roadways, Public Infrastructure Improvements (as that term is defined in the GEDCO Performance Agreement), or the Parkland Improvements as required by this Agreement and/or the Related Documents, and to secure a final Certification of Completion (for the Hotel, Conference Center, and Public Parking Garage) or the City’s final acceptance (for the Public Infrastructure Improvements or Public Roadways) on or before the Construction Deadline, is an Event of Default. (b) False Statements. Any warranty, representation, or statement made or furnished to GEDCO or the City by or on behalf of Developer, Brae, or Hines under this Agreement or under any of the Related Documents that is false or misleading in any material respect, either now or at the time made or furnished, is an Event of Default. (c) Insolvency. Developer’s, Brae’s, or Hines’ insolvency, appointment of receiver for any part of their respective property or the Property, any assignment for the benefit of creditors of any of them, any type of creditor workout for any of them, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against any of them is an Event of Default. (d) General. The failure of a Party to this Agreement to comply with any term, covenant, or condition contained in this Agreement, or the failure of any party to a GTEC Performance Agreement The Summit at Rivery Park Page 14 of 34 Related Document to comply with any term, covenant, or condition contained in a Related Document, is an Event of Default. SECTION 8. EFFECT OF AN EVENT OF DEFAULT. (a) Failure to Construct. In the event Developer or Hines (as applicable) fail to construct the Hotel, Conference Center, Public Parking Garage, Public Infrastructure Improvements (as defined in the GEDCO Performance Agreement, the Public Roadways, or the Parkland Improvements as required by this Agreement and/or the Related Documents, and to secure a final Certification of Completion (for the Hotel, Conference Center, and Public Parking Garage) or the City’s final acceptance (for the Public Infrastructure Improvements or the Public Roadways) on or before the Construction Deadline, GTEC shall have no obligation to reimburse Developer for any part of the GTEC Share. (b) Other Event of Default. If an Event of Default other than an event described in Section 7(a) of this Agreement occurs, the non-defaulting party shall give written notice to the defaulting of any default, and the defaulting party shall have thirty (30) days (the “Cure Period”) to cure said default. Should said default remain uncured as of the last day of the Cure Period, and the non-defaulting party is not otherwise in the Parties shall each have all rights and remedies available to them in law and in equity for any Event of Default not specifically addressed above in Section 8(a). In the event that the default cannot be cured within the Cure Period, but Developer commences cure within the Cure Period and diligently pursues same, Developer shall have an additional period of time, not to exceed ninety (90) days from the initial default notice, in which to compete the cure. SECTION 9. FORCE MAJEURE (a) Definition. Except as otherwise provided below, the term “Force Majeure Event” means any act or event, whether foreseen or unforeseen, that meets all three (3) of the following tests: (1) The act or event prevents a party (the “Nonperforming Party”), in whole or in part, from (i) performing its obligations under this Agreement; or (ii) satisfying any conditions precedent to the other party’s (the “Performing Party’s”) obligations under this Agreement; and (2) The act or event is beyond the reasonable control of and not the fault of the Nonperforming Party, and GTEC Performance Agreement The Summit at Rivery Park Page 15 of 34 (3) The Nonperforming Party has been unable to avoid or overcome the act or event by the exercise of due diligence. (b) Report of a Force Majeure Event. No later than five (5) business days after becoming aware of the occurrence of a Force Majeure Event, the Nonperforming Party shall furnish the Performing Party with a written report describing the particulars of the occurrence, including an estimate of its expected duration and probable impact on the performance of the Nonperforming Party’s obligations under this Agreement (the “Report”). (c) Duties During the Continuation of a Force Majeure Event. During the continuation of the Force Majeure Event, the Nonperforming Party shall: (1) exercise commercially reasonable efforts to mitigate or limit damages to the Performing Party; (2) exercise commercially reasonable due diligence to overcome the Force Majeure Event; (3) to the extent it is able, continue to perform its other obligations under this Agreement; (4) cause the suspension of performance to be of no greater scope and no longer duration than the Force Majeure Event requires; and (5) cause payments required under this Agreement to be paid when and as due. (d) Resumption of Performance. When the Nonperforming Party is able to: (1) resume performance of its obligations under this Agreement, or (2) satisfy the conditions to the Performing Party’s obligations, it shall immediately give the Performing Party written notice to that effect and shall resume performance under this Agreement. (e) Dispute Resolution Related to Force Majeure. The Parties shall negotiate in good faith and attempt to resolve any dispute among them as to whether a Force Majeure Event has occurred, or whether a Force Majeure Event has prevented the Nonperforming Party, in whole or in part, from performing any obligation or satisfying any condition under this Agreement. If the Parties are unable to resolve the dispute or to agree on a course of action within ten (10) calendar days from the date of the Report, GTEC Performance Agreement The Summit at Rivery Park Page 16 of 34 the Parties shall submit the dispute to the Williamson County Commissioners Court for a binding determination on the sole issue of whether an Event of Force Majeure has occurred or has prevented the Nonperforming Party from performing any obligation or satisfying any condition under this Agreement. The burden of proof for demonstrating that a Force Majeure Event has occurred, or that a Force Majeure Event has prevented performance, shall be on the Nonperforming Party. (f) Exclusive Remedy. The relief offered by this Section 9 is the exclusive remedy available to the Nonperforming Party with respect to a Force Majeure Event, and the Parties waive the common law defenses of impossibility and impracticability with respect to the Force Majeure Events and any event or act that might be deemed a force majeure event under the common law. SECTION 10. INDEMNIFICATION AND DEVELOPER’S WARRANTIES, REPRESENTATIONS, AND COVENANTS. (a) DEVELOPER, ITS PARTNERS, MEMBERS, OFFICERS, SUCCESSORS, AGENTS, AFFILIATES, CONTRACTORS, AND ASSIGNS (COLLECTIVELY, THE “INDEMNITORS”) SHALL, JOINTLY AND SEVERALLY, INDEMNIFY, SAVE, AND HOLD HARMLESS THE CITY, GTEC, AND THEIR RESPECTIVE DIRECTORS, OFFICERS, AGENTS, ATTORNEYS, AND EMPLOYEES (COLLECTIVELY, THE "INDEMNITEES") FROM AND AGAINST: (I) ANY AND ALL CLAIMS, DEMANDS, ACTIONS OR CAUSES OF ACTION THAT ARE ASSERTED AGAINST ANY INDEMNITEE IF THE CLAIM, DEMAND, ACTION OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY RELATES TO TORTIOUS INTERFERENCE WITH CONTRACT OR BUSINESS INTERFERENCE, OR WRONGFUL OR NEGLIGENT USE OF GTEC FUNDING BY THE INTEMNITORS OR ANY OF THEIR AGENTS AND EMPLOYEES; (II) ANY ADMINISTRATIVE OR INVESTIGATIVE PROCEEDING BY ANY GOVERNMENTAL AUTHORITY DIRECTLY OR INDIRECTLY RELATED, TO A CLAIM, DEMAND, ACTION OR CAUSE OF ACTION IN WHICH ANY INDEMNITEE IS A DISINTERESTED PARTY; (III) ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION WHICH DIRECTLY OR INDIRECTLY CONTESTS OR CHALLENGES THE LEGAL AUTHORITY OF THE INDEMNITEES OR THE INDEMNITORS TO ENTER INTO THIS AGREEMENT; (IV) ANY AND ALL LIABILITIES, LOSSES, COSTS, OR EXPENSES (INCLUDING REASONABLE ATTORNEYS' FEES AND DISBURSEMENTS) THAT ANY INDEMNITEE SUFFERS OR INCURS AS A RESULT OF ANY OF THE FOREGOING OR IS ARISING FROM OR RELATED TO THIS AGREEMENT; (V) A BREACH OF THIS AGREEMENT OR VIOLATION OF LAW BY THE INDEMNITORS; (VI) A FALSE REPRESENTATION OR WARRANTY MADE BY THE INTEMNITORS IN THIS AGREEMENT OR IN THE DESCRIPTION OF THE PUBLIC ROADWAYS OR THE ESTIMATED COSTS LISTED ON EXHIBIT D OF THIS AGREEMENT; (VII) THE NEGLIGENCE, GROSS NEGLIGENCE, WILLFUL MISCONDUCT, OR BREACH OF A STANDARD OF STRICT LIABILITY BY THE INDEMNITORS IN CONNECTION WITH THIS AGREEMENT. CLAIMS TO BE INDEMNIFIED UNDER THIS SECTION INCLUDE BUT ARE NOT LIMITED TO CLAIMS FOR BODILY INJURY OR DEATH, OCCUPATIONAL ILLNESS OR DISEASE, LOSS OF SERVICES GTEC Performance Agreement The Summit at Rivery Park Page 17 of 34 WAGES OR INCOME, DAMAGE DESTRUCTION OR LOSS OF USE OF PROPERTY, AND WORKERS’ COMPENSATION CLAIMS. DEVELOPER’S OBLIGATIONS UNDER THIS ARTICLE ARE NOT EXCUSED IN THE EVENT A CLAIM IS CAUSED IN PART BY THE ALLEGED NEGLIGENCE OR WILLFUL MISCONDUCT OF ANY OF THE INDEMNIFIED PARTIES OR BREACH OF ANY OF SUCH PARTIES' OBLIGATIONS UNDER THIS AGREEMENT. IF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION IS ASSERTED AGAINST ANY INDEMNITEE, SUCH INDEMNITEE SHALL PROMPTLY NOTIFY THE INDEMNITORS, BUT THE FAILURE TO SO PROMPTLY NOTIFY THE INDEMNITORS SHALL NOT AFFECT THE INDEMNITORS’ OBLIGATIONS UNDER THIS SECTION UNLESS SUCH FAILURE MATERIALLY PREJUDICES THE INDEMNITORS’ RIGHT TO PARTICIPATE IN THE CONTEST OF SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION, AS HEREINAFTER PROVIDED. IF REQUESTED BY THE INDEMNITORS IN WRITING, AS SO LONG AS NO DEFAULT OR EVENT OF DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING, SUCH INDEMNITEE SHALL IN GOOD FAITH CONTEST THE VALIDITY, APPLICABILITY AND AMOUNT OF SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION AND SHALL PERMIT THE INDEMNITORS TO PARTICIPATE IN SUCH CONTEST. ANY INDEMNITEE THAT PROPOSES TO SETTLE OR COMPROMISE ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION OR PROCEEDING FOR WHICH THE INDEMNITORS MAY BE LIABLE FOR PAYMENT OF INDEMNITY HEREUNDER SHALL GIVE THE INDEMNITORS WRITTEN NOTICE OF THE TERMS OF SUCH PROPOSED SETTLEMENT OR COMPROMISE REASONABLY IN ADVANCE OF SETTLING OR COMPROMISING SUCH CLAIM OR PROCEEDING AND SHALL OBTAIN THE INDEMNITORS’ CONCURRENCE THERETO. (b) Developer represents and warrants to the City that the following representation and warranties are true as of the Effective Date: (1) Due Organization and Ownership. Developer is a limited liability company validly existing under the laws of the State of Texas, and the person executing this Agreement on behalf of Developer is authorized to enter into this Agreement. The sole managing member of Developer is Jeffrey Ladd Novak. (2) Due Authority; No Conflict. Developer has all requisite power and authority to execute this Agreement and to carry out its obligations hereunder and the transactions contemplated hereby. This Agreement has been, and the documents contemplated hereby will be, duly executed by Developer and constitute Developer’s legal, valid and binding obligations enforceable against Developer in accordance with their terms. The consummation by Developer of the transactions contemplated hereby is not in violation of or in conflict with, nor does it constitute a default under, any term or provision of the organizational documents of Developer, or any of the terms of any agreement or instrument to which Developer is a party, or by which Developer is bound, or of any provision GTEC Performance Agreement The Summit at Rivery Park Page 18 of 34 of any applicable law, ordinance, rule or regulation of any governmental authority or of any provision of any applicable order, judgment or decree of any court, arbitrator or governmental authority. (3) Consents. No consent, approval, order or authorization of, or declaration or filing with any governmental authority is required on the part of Developer in connection with the execution and delivery of this Agreement or for the performance of the transactions herein contemplated by the respective Parties hereto. (4) Litigation. There are no pending or, to the best of Developer’s knowledge, threatened, judicial, municipal, or administrative proceedings, consent decrees, or judgments which might affect Developer’s ability to consummate the transaction contemplated hereby. (5) Legal Proceedings. No preliminary or permanent injunction or other order, decree, or ruling issued by a governmental entity, and not statute, rule, regulation, or executive order promulgated to or enacted by a governmental entity, shall be in effect which restrains, enjoins, prohibits, or otherwise makes illegal the consummation of the transactions contemplated by this Agreement. SECTION 11. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement: (a) Amendments. This Agreement and the Exhibits attached hereto, together with all of the Related Documents, constitute the entire understanding and agreement of the parties as to the matters set forth in this Agreement. No alteration of or amendment to this Agreement shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration or amendment. (b) Applicable Law and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, and all obligations of the parties created hereunder are performable in Williamson County, Texas. Venue for any action arising under this Agreement shall lie in the state district courts of Williamson County, Texas. (c) Assignment. This Agreement may not be assigned by Developer without the express written consent of both GTEC and the City Council. GTEC Performance Agreement The Summit at Rivery Park Page 19 of 34 (d) Binding Obligation. This Agreement shall become a binding obligation on the Parties upon execution by all signatories hereto. Each Party to this Agreement warrants and represents that the individual or individuals executing this Agreement on behalf of them has full authority to execute this Agreement and bind them to the same. (e) Caption Headings. Caption headings in this Agreement are for convenience purposes only and are not to be used to interpret or define the provisions of the Agreement. (f) Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which shall constitute one and the same document. (g) Notices. Any notice or other communication required or permitted by this Agreement (hereinafter referred to as the "Notice") is effective when in writing and (i) personally delivered or (ii) three (3) days after notice is deposited with the U.S. Postal Service, postage prepaid, certified with return receipt requested, and addressed as follows: if to Developer: Novak Brothers, LLC Attn: Jeff Novak, Managing Member 201 Adams Street Georgetown, Texas 78628 Telephone: (512) 931-7788 if to Brae: Brae Group, Ltd. Attn: Jeff Novak 201 Adams Street Georgetown, Texas 78628 Telephone: (512) 931-7788 if to Hines: Hines Georgetown Hotel LLC Attn: Travis M. Overall 811 Main Street, Suite 4100 Houston, Texas 77002 Telephone: (713) 237-5679 GTEC Performance Agreement The Summit at Rivery Park Page 20 of 34 if to GTEC: Georgetown Transportation Enhancement Corporation Attn: City of Georgetown Economic Development Director 113 E. 8th Street Georgetown, Texas 78626 Telephone: (512) 930-3652 if to City: City of Georgetown Attn: City Manager 113 E. 8th Street Georgetown, Texas 78626 Telephone: (512) 930-3723 (h) Severability. If a court of competent jurisdiction finds any provision of this Agreement to be invalid or unenforceable as to any person or circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances. If feasible, any such offending provision shall be deemed to be modified to be within the limits of enforceability or validity if the Parties so agree; however, if the offending provision cannot be so modified by agreement, it shall be stricken and all other provisions of this Agreement in all other respects shall remain valid and enforceable. (i) Time is of the Essence. Time is of the essence in the performance of this Agreement. (j) Undocumented Workers. Developer certifies that it does not and will not knowingly employ an undocumented worker in accordance with Chapter 2264 of the Texas Government Code, as amended. If during the Term of this Agreement, Developer is convicted of a violation under 8 U.S.C. § 1324a(f), Developer shall repay the amount of the public subsidy provided under this Agreement plus interest, at the rate of eight percent (8%), not later than the 120th day after the date GTEC notifies Developer of the violation. (k) Vesting. Developer agrees that neither this Agreement nor any proceedings related to the request for GTEC funds is a vesting event under Chapter 245 of the Texas Local Government Code. GTEC Performance Agreement The Summit at Rivery Park Page 21 of 34 (l) Further Assurances. The Parties agree to make, execute and deliver to GTEC such other promissory notes, instruments, documents and other agreements as GTEC or its attorneys may reasonably request to evidence this Agreement. (m) Performance. The Parties each agree to perform and comply with all terms, conditions, and provisions set forth in this Agreement and in all other instruments and agreements between or among them. EXHIBIT LIST: Exhibit A Sketch of the Property Exhibit B Site Layout Exhibit C Public Roadways Exhibit D Qualified Expenditures Exhibit E Insurance and Payment and Performance Bond Requirements GTEC Performance Agreement The Summit at Rivery Park Page 22 of 34 NOVAK: NOVAK BROTHERS, LLC a Texas limited liability corporation By: Printed Name: Jeffrey Ladd Novak Title: Managing Member Date Signed: ACKNOWLEDGEMENT State of Texas § County of _______________ § This instrument was acknowledged before me on ________ (date) by Jeffrey Ladd Novak, the duly authorized Managing Member of Novak Brothers, LLC, a Texas limited liability company, on behalf of Novak Brothers, LLC. Notary Public GTEC Performance Agreement The Summit at Rivery Park Page 23 of 34 GTEC: GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION, a Texas non-profit corporation By: Printed Name: Title: President Date Signed: ATTEST: , Secretary ACKNOWLEDGEMENT State of Texas § County of Williamson § This instrument was acknowledged before me on ________ (date) by __________________ (name), President of the Georgetown Transportation Enhancement Corporation, a Texas corporation, on behalf of the Georgetown Transportation Enhancement Corporation. Notary Public GTEC Performance Agreement The Summit at Rivery Park Page 24 of 34 Exhibit C THE PUBLIC ROADWAYS GTEC Performance Agreement The Summit at Rivery Park Page 25 of 34 Exhibit D QUALIFIED EXPENDITURES GTEC Performance Agreement The Summit at Rivery Park Page 26 of 34 EXHIBIT E INSURANCE REQUIREMENTS 1. CONTRACTOR shall purchase and maintain insurance in the types and amounts indicated below for the duration of the Agreement (unless a longer duration is specified), which shall include items owned by the City of Georgetown, Texas (“OWNER”) in the care, custody and control of CONTRACTOR prior to and during the term of the Contract and all warranty periods. Failure to purchase and maintain the required insurance shall be grounds for Termination of the Agreement or Suspension of the Work by OWNER. Except for the Worker’s Compensation policy, the other insurance policies required by the Agreement to be obtained by CONTRACTOR must state that OWNER, its officials, directors, employees, representatives, and volunteers are added as additional insureds with regard to operations and activities by or on behalf of the named insureds performed under contract with OWNER. The additional insured status must cover completed operations as well, and the policy covering completed work must remain in effect until the expiration of the statue of repose. 2. CONTRACTOR must complete and forward the required Certificates of Insurance to OWNER before the Agreement is executed as verification of coverage required below. CONTRACTOR shall not commence Work until the required insurance is obtained and until such insurance has been reviewed by OWNER. Approval of insurance by OWNER shall not relieve or decrease the liability of CONTRACTOR hereunder and shall not be construed to be a limitation of liability on the part of CONTRACTOR. CONTRACTOR must also complete and forward the required Certificates of Insurance to OWNER whenever a previously identified policy period has expired as verification of continuing coverage. 3. Contractor’s insurance coverage is to be written by companies licensed to do business in the State of Texas at the time the policies are issued and shall be written by companies with A.M. Best ratings of B+VII or better, except for hazardous material insurance which shall be written by companies with A.M. Best ratings of A- or better. 4. All endorsements naming the OWNER as additional insured, waivers, and notices of cancellation endorsements as well as the Certificate of Insurance shall indicate: City of Georgetown, 113 E. 8th Street, Georgetown, Texas 78626, ATTN: Contract Manager. 5. The “other” insurance clause shall not apply to the OWNER where the OWNER is an additional insured shown on any policy. It is agreed that the CONTRACTOR’s insurance shall be considered primary with respect to any insurance or self-insurance carried by OWNER. The CONTRACTOR’S insurance shall apply separately to each insured against whom a claim is made and/or lawsuits brought, except with respect to the limits of insurer’s liability. 6. If insurance policies are not written for amounts specified below, CONTRACTOR shall carry Umbrella or Excess Liability Insurance for any differences in amounts specified. If Excess Liability Insurance is provided, it shall follow the form of the primary coverage. 7. OWNER shall be entitled, upon request and without expense, to receive certified copies of policies and endorsements thereto and may make any reasonable requests for deletion or revision or modification of particular policy terms, conditions, limitations, or exclusions except where policy provisions are established by law or regulations binding upon either of the parties hereto or the underwriter on any such policies. GTEC Performance Agreement The Summit at Rivery Park Page 27 of 34 8. OWNER reserves the right to review the insurance requirements set forth during the effective period of this Agreement and to make reasonable adjustments to insurance coverage, limits, and exclusions when deemed necessary and prudent by OWNER based upon changes in statutory law, court decisions, the claims history of the industry or financial condition of the insurance company as well as CONTRACTOR. 9. CONTRACTOR shall not cause any insurance to be canceled nor permit any insurance to lapse during the term of the Agreement or as required in the Agreement. 10. CONTRACTOR shall be responsible for premiums, deductibles and self-insured retentions, if any, stated in policies. All deductibles or self-insured retentions shall be disclosed on the Certificate of Insurance. 11. The policies must contain the following language: “This policy shall not be cancelled, materially changed, or not renewed until after thirty (30) days prior written notice has been given to OWNER.” In addition, CONTRACTOR shall provide OWNER thirty (30) days written notice of erosion of the aggregate limits below occurrence limits for all applicable coverages indicted within the Agreement. 12. If OWNER-owned property is being transported or stored off-Site by CONTRACTOR, then the appropriate property policy will be endorsed for transit and storage in an amount sufficient to protect OWNER’s property. 13. The insurance coverages required under this contract are required minimums and are not intended to limit the responsibility or liability of CONTRACTOR. 14. Without limiting any of the other obligations or liabilities of the CONTRACTOR, the CONTRACTOR shall require each Subcontractor performing work under the Agreement, at the Subcontractor’s own expense, to maintain during the term of the Agreement, the same stipulated minimum insurance including the required provisions and additional policy conditions as shown above. As an alternative, the CONTRACTOR may include its Subcontractors as additional insureds on its own coverage as prescribed under these requirements. The CONTRACTOR’s certificate of insurance shall note in such event that the Subcontractors are included as additional insureds and that CONTRACTOR agrees to provide Workers’ Compensation for the Subcontractors and their employees. The CONTRACTOR shall obtain and monitor the certificates of insurance from each Subcontractor in order to assure compliance with the insurance requirements. The CONTRACTOR must retain the certificates of insurance for the duration of the Agreement plus five (5) years and shall have the responsibility of enforcing these insurance requirements among its subcontractors. The OWNER shall be entitled, upon request and without expense, to receive copies of these certificates. B. Business Automobile Liability Insurance. Provide coverage for all owned, non-owned and hired vehicles in an amount not less than $1,000,000 combined single limit per accident for bodily injury and property damage. The policy shall contain the following endorsements in favor of OWNER: · Waiver of Subrogation endorsement TE 2046A; · 30 day Notice of Cancellation endorsement TE 0202A; and · Additional Insured endorsement TE 9901 B. GTEC Performance Agreement The Summit at Rivery Park Page 28 of 34 · Provide coverage in the following types and amounts: · A minimum combined bodily injury and property damage limit of $1,000,000 per occurrence. No aggregate shall be permitted for this type of coverage. Such insurance shall include coverage for loading and unloading hazards. C. Workers’ Compensation and Employers’ Liability Insurance. Coverage shall be consistent with statutory benefits outlined in the Texas Workers’ Compensation Act (Section 401). CONTRACTOR shall assure compliance with this Statute by submitting two (2) copies of a standard certificate of coverage (e.g. ACCORD form) to Owner’s Representative for every person providing services on the Project as acceptable proof of coverage. The required Certificate of Insurance must be presented as evidence of coverage for CONTRACTOR. Workers’ Compensation Insurance coverage written by the Texas Workers Compensation Fund is acceptable to OWNER. CONTRACTOR’s policy shall apply to the State of Texas and include these endorsements in favor of OWNER: · Waiver of Subrogation, form WC 420304; and · 30 day Notice of Cancellation, form WC 420601. The minimum policy limits for Employers’ Liability Insurance coverage shall be the minimum amounts required to meet the statutory requirements of Texas Labor Code, Section 401.011(44), or the following, whichever is greater: · $1,000,000 bodily injury per accident, and · $1,000,000 bodily injury by disease policy limit; and · $1,000,000 bodily injury by disease each employee; and · $1,000,000 Employer’s Liability. CONTRACTOR has the option to self-insure in accordance with applicable law and OWNER approval. D. Commercial General Liability Insurance. The Policy shall contain the following provisions (to the extent available): · Blanket contractual liability coverage for liability and indemnifications assumed under the Agreement and all contracts relative to this Project. · Completed Operations/Products Liability until the end the statute of repose period. · Explosion, Collapse and Underground (X, C & U) coverage. · Independent Contractor’s coverage. · Aggregate limits of insurance per project, endorsement CG 2503. · OWNER listed as an additional insured, endorsement CG 2010. GTEC Performance Agreement The Summit at Rivery Park Page 29 of 34 · 30 day notice of cancellation in favor of OWNER, endorsement CG 0205. · Waiver of Transfer of Recovery Against Others in favor of OWNER, endorsement CG 2404 fully insuring CONTRACTOR’S or Subcontractor’s liability for bodily injury and property damages with a combined bodily injury (including death) and property damage minimum limit of: $1,000,000 per occurrence $2,000,000 general aggregate $2,000,000 products and completed operations aggregate Coverage shall be on an “occurrence” basis. E. Intentionally omitted. F. Umbrella Liability Insurance. The CONTRACTOR shall obtain, pay for, and maintain umbrella liability insurance during the contract term, insuring the CONTRACTOR (or subcontractor) for an amount not less than $1,000,000 that provides coverage at least as broad and applies in excess of and follows the form of the primary liability coverages required hereunder. The policy shall provide “drop down” coverage where underlying primary insurance coverages limits are insufficient or exhausted. G. Intentionally omitted. PERFORMANCE AND PAYMENT BONDS A. General. 1. Bonds, when required by the Agreement or by Chapter 2253 of the Texas Government Code, shall be executed on forms furnished by or acceptable to OWNER. All bonds signed by an agent must be accompanied by a certified copy of such agent’s authority to act. 2. If the surety on any bond furnished by CONTRACTOR is declared bankrupt or becomes insolvent or its right to do business is terminated in the State of Texas or it ceases to meet the requirements of the preceding paragraph, CONTRACTOR shall within ten (10) days thereafter substitute another bond and surety, both of which must be acceptable to OWNER. 3. When Performance Bonds and/or Payment Bonds are required, each shall be issued in an amount of one hundred percent (100%) of the estimated construction cost of the Public Roadways as security for the faithful performance and/or payment of all CONTRACTOR’s obligations under the Agreement. Performance Bonds and Payment Bonds shall be issued by a solvent surety company authorized to do business in the State of Texas, and shall meet any other requirements established by law or by OWNER pursuant to applicable law. Any surety duly authorized to do business in Texas may write Performance and Payment Bonds on a project without reinsurance to the limit of 10 percent of its capital and surplus. Such a surety must reinsure any obligations over 10 percent. B. Performance Bond. GTEC Performance Agreement The Summit at Rivery Park Page 30 of 34 1. If the estimated cost of constructing the Public Roadways exceeds $100,000, CONTRACTOR shall furnish OWNER with a Performance Bond in the form set out by OWNER. The Performance Bond shall be effective for the term of the Agreement and through all warranty period(s). 2. If the estimated cost of constructing the Public Roadways exceeds $25,000 but is less than or equal to $100,000, CONTRACTOR shall furnish OWNER with a Performance Bond in the form set out by OWNER, unless the original estimated time for completion of construction is 60 Calendar Days or less, in which case CONTRACTOR can agree to the following terms and conditions for payment in lieu of providing a Performance Bond: no money will be paid to CONTRACTOR until completion and acceptance of the Work by OWNER; CONTRACTOR shall be entitled to receive 95% of the estimated cost of construction of the Public Roadways following Final Completion, and the remaining 5% of the Contract Amount following the one year warranty period. 3. If the estimated cost of constructing the Public Roadways is less than or equal to $25,000, CONTRACTOR will not be required to furnish a Performance Bond. 4. If a Performance Bond is required to be furnished, it shall extend for the one year warranty period, or longer if the warranty periods are longer. C. Payment Bond. 1. If the estimated cost of constructing the Public Roadways exceeds $25,000, CONTRACTOR shall furnish OWNER with a Payment Bond in the form set out by OWNER. 2. If the estimated cost of constructing the Public Roadways is less than or equal to $25,000, CONTRACTOR will not be required to furnish a Payment Bond; provided that no money will be paid to CONTRACTOR until completion and acceptance of the Work by OWNER. D. Power of Attorney. Each bond shall be accompanied by a valid Power of-Attorney (issued by the surety company and attached, signed and sealed with the corporate embossed seal, to the bond) authorizing the attorney in fact who signs the bond to commit the company to the terms of the bond, and stating any limit in the amount for which the attorney can issue a single bond. E. Bond Indemnification. The process of requiring and accepting bonds and making claims thereunder shall be conducted in compliance with Tex. Gov’t Code, Chapter 2253. IF FOR ANY REASON A STATUTORY PAYMENT OR PERFORMANCE BOND IS NOT HONORED BY THE SURETY, THE CONTRACTOR SHALL FULLY INDEMNIFY AND HOLD THE OWNER HARMLESS OF AND FROM ANY COSTS, LOSSES, OBLIGATIONS OR LIABILITIES IT INCURS AS A RESULT. F. Furnishing Bond Information. OWNER shall furnish certified copies of the payment bond and the related Agreement to any qualified person seeking copies who complies with Tex. Gov’t Code, §2253.026. G. Claims on Payment Bonds. Claims on payment bonds must be sent directly to the CONTRACTOR and his surety in accordance with Tex. Gov’t Code § 2253.041. All Payment Bond claimants are cautioned that no lien exists on the funds unpaid to the CONTRACTOR on such Contract, and that reliance on notices sent to the OWNER may result in loss of their rights against the CONTRACTOR and/or his surety. The OWNER is not responsible in any manner to a GTEC Performance Agreement The Summit at Rivery Park Page 31 of 34 claimant for collection of unpaid bills, and accepts no such responsibility because of any representation by any agent or employee. H. Payment Claims when Payment Bond not Required. The rights of Subcontractors regarding payment are governed by Tex. Prop. Code, §§53.231 – 53.239 when the estimated cost of constructing the Public Roadways is less than $25,000.00. These provisions set out the requirements for filing a valid lien on funds unpaid to the CONTRACTOR as of the time of filing the claim, actions necessary to release the lien and satisfaction of such claim. I. Minimum Standards for Sureties. Sureties shall be listed on the US Department of the Treasury’s Listing Approved Sureties stating companies holding Certificates of Authority as acceptable sureties on Federal Bonds and acceptable reinsuring companies (Department Circular 570). AUSTIN_1\703560v1 55127-1 06/07/2013 GTEC Performance Agreement The Summit at Rivery Park Page 32 of 34 CERTIFICATION OF BRAE GROUP, LTD. APPROVAL I hereby certify that the foregoing Performance Agreement pertaining to The Summit at Rivery Park was approved by Brae Group, Ltd., a Texas limited liability partnership, on the _______ day of ______________________________, 2013, as evidenced by the signatures of duly authorized representatives of Brae Group, Ltd. appearing below. BRAE GROUP, LTD. A Texas limited liability partnership By: Novak Brothers, LLC A Texas limited liability company its sole General Partner By: Jeff Novak Managing Member ACKNOWLEDGEMENT State of Texas § County of Williamson § This instrument was acknowledged before me on _______________(date) by Jeff Novak, Managing Member of Novak Brothers, LLC, a Texas limited liability company, General partner of Brae Group, Ltd., a Texas limited partnership, on behalf of Brae Group, Ltd. Notary Public GTEC Performance Agreement The Summit at Rivery Park Page 33 of 34 CERTIFICATION OF HINES GEORGETOWN HOTEL, LLC APPROVAL I hereby certify that the foregoing Performance Agreement pertaining to The Summit at Rivery Park was approved by Hines Georgetown Hotel, LLC, a Delaware limited liability company, on the _______ day of ______________________________, 2013, as evidenced by the signatures of duly authorized representatives of Hines Georgetown Hotel, LLC appearing below. HINES GEORGETOWN HOTEL, LLC a Delaware limited liability company By: Hines Georgetown Hotel Associates Limited Partnership, a Texas limited partnership, its sole member By: Hines Georgetown Hotel GP, LLC, a Delaware limited liability company, its general partner By: Hines Interests Limited Partnership, a Delaware limited partnership, its sole member By: Hines Holdings, Inc, a Texas corporation, its general partner By: Printed Name: Title: Date Signed: ACKNOWLEDGEMENT State of ______ § County of _______________ § This instrument was acknowledged before me on ________ (date) by __________________ (name of officer), _____________________(title of officer) of Hines Georgetown Hotel LLC, a Texas limited liability company, by ______________________________ , its __________________________________(type of entity) on behalf of Hines Georgetown Hotel LLC. Notary Public GTEC Performance Agreement The Summit at Rivery Park Page 34 of 34 CERTIFICATION OF CITY COUNCIL APPROVAL I hereby certify that the foregoing Performance Agreement pertaining to The Summit at Rivery Park was approved by the City Council of the City of Georgetown, Texas, on the day of ______________________________, 2013. THE CITY OF GEORGETOWN, TEXAS A Texas home-rule municipality By: George G. Garver, Mayor ATTEST: By: Jessica Brettle, City Secretary APPROVED AS TO FORM: By: Bridget Chapman, City Attorney ACKNOWLEDGEMENT State of Texas § County of Williamson § This instrument was acknowledged before me on ________________(date) by George G. Garver, Mayor or the City of Georgetown, Texas, a Texas home-rule municipal corporation, on behalf of the City of Georgetown, Texas. Notary Public City of Georgetown, Texas SUBJECT: ITEM SUMMARY: FINANCIAL IMPACT: SUBMITTED BY: